Do you have a trust? Are you thinking about creating one? Why? Most people will tell you they created or want to create a trust to protect their assets and to make sure they are taking care of their children/grandchildren. So, it makes sense that (1) who takes care of the children and (2) who takes […]
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Tax Benefits of a LLC
THЕ TАX BЕNЕFITЅ ОF A LIMITED LIАBILITУ COMPANY A limitеd liаbilitу соmраnу, or LLC, is оnе оf thе most рорulаr buѕinеѕѕ entities. An LLC is uniquе in thаt it’ѕ a pass-through entity. Thе Internal Rеvеnuе Sеrviсе (IRS) does nоt consider an LLC a legal separate еntitу in terms оf tаxаtiоn, ѕо all buѕinеѕѕ income, losses, […]
The Ultimate Business Pre-Nup
We’ve all heard the stats… 50% of marriages end in divorce. And you ask, what does this have to do with business law Scott? The answer is simple, despite the myth that 95% of companies fail (I’ve heard, 80%, 90%, etc.), reality suggests that nearly 50% of companies make it to the fifth year. ( https://www.sba.gov/sites/default/files/Business-Survival.pdf). […]
Guardian Selection, it’s All About Them
The selection of a guardian for your child(ren) is, and rightfully should be, one of the hardest decisions a parent may ever have to make during their estate planning process. As such, I thought it was worthwhile to follow up last month’s article “Pick Me!” with a more detailed analysis of the discussions I have […]
Estate Planning Considerations – WHO?
During the process of setting up your will or trust you are going to be asked to make some very important decisions regarding your future plans. Below are some of the most important roles we ask our clients to nominate another person for and a brief description of each. Who, in your life, would you […]